Borrowing without a proven income stream

Wednesday August 21, 2019

In the conventional financing world, trying to secure a mortgage without income to service the debt would be nigh on impossible. However, in the large and complex loan space, it’s a challenge we deal with on a regular basis. Our Associate Director, Tom Foster’s recent case was a classic example at work.

Case profile

Our client was looking for a remortgage of over £1.2million but was technically unemployed. However, the client had no other debt and a liquid investment portfolio valued at over £2.5million.


In this type of case, it’s possible for a lender to consider ‘top slicing’, which means they look at the client’s total assets and, as long as they’re confident these can service the repayments, they will lend the money even if there isn’t a proven income stream.

To get a positive outcome in this kind of scenario, you need the right team to identify an appropriate lender and present your case in the correct way, directly to the decision makers. Having done so, Tom secured an eight year term for the client based purely on the value of their investment portfolio.

Deal Highlights

Loan amount:
2.99% 5 Year fixed rate
Loan To Value:65%
APRC:Overall cost for comparison 4.20% APRC representative variable
Term:8 Years
Type:Interest only
Loan purpose:Remortgage
Lenders arrangement fee:0.75% of loan amount
Early repayment charge:
3% of outstanding loan for the first 3 years

Overall cost for comparison 4.20% APRC representative variable based on 60 monthly payments at a fixed rate of 2.99% followed by 36 monthly payments at the lenders variable rate, currently 5.49%. Total amount to be repaid £1,605,304.13. As the mortgage rate is not fixed for the duration of the loan this amount is illustrative and may be vary in particular as a result of variations in interest rate.

Because part of the loan is a variable interest rate loan, the actual APRC could be different from this APRC if the interest rate for your loan changes. For example, if the interest rate rose to 10.74%, the APRC could increase to 11.70%. The actual rate and product available will depend upon individual circumstances and may not be available to everyone. Ask for a personalised illustration. 

Your home or property may be repossessed if you do not keep up repayments on your mortgage.

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Your home or property may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it. Changes in the exchange rate may increase the sterling equivalent of your debt. You may have to pay an early repayment charge to your existing lender if you remortgage. Think carefully before securing any other debts against your home. is a trading name of Ltd, Aegon House, Ground Floor Suite, 13 Lanark Square, London, E14 9QD authorised and regulated by the Financial Conduct Authority (FCA). Our FCA registration number is 302228 and can be viewed by visiting the FCA website: The FCA does not regulate tax advice or some aspects of commercial, buy to let, overseas mortgages, bridging finance, finance and asset lending. Ltd is a licensed credit broker, and not a lender. Ltd Registered in England and Wales No: 5070990 Registered Address: As above. The guidance and advice contained within the website are subject to the UK regulatory regime and is primarily targeted at UK customers. Calls may be recorded for training and monitoring.
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